Needham & Company analyst Serge Belanger reiterated a Buy rating and boosted his price target on Omeros Corp. (NASDAQ: OMER) to $32.00 (from $22.00) into the Spring U.S. launch of Omidria.

Belanger commented, "OMER held its own "Spring Training" session with the soft launch of Omidria in February, an exercise meant to gather feedback from surgeons and iron out logistics ahead of a full-scale U.S. launch in early April 2015. Given Omidria's pass-through reimbursement status by CMS and recent regulations around pharmacy-compounded products, we believe market conditions are favorable for a strong product uptake. OMER expects a potential European approval decision in 1H15, followed by the announcement of European commercial partnership and European launch in 2H15. Beyond Omidria, we expect important phase 2 developments from pipeline candidates OMS721 and OMS824 throughout 2015. The launch of Omidria is a key event in the transition of OMER into a commercial biopharma company."

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Shares of Omeros Corp. closed at $24.13 yesterday.