** Brokerage Jefferies raises PT on drug developer Xenon Pharmaceuticals XENE.O to $65 from $60; maintains "buy" rating
** New PT represents a 62% upside to the stock's last close
** Brokerage says it sees a "catalyst-rich period" ahead for XENE, driven by multiple late-stage trials of co's experimental drug XEN1101 targeting epilepsy and depression
** Brokerage says XENE is on track to report data from the first of its two ongoing late-stage trials of XEN1101 in H2 this year, which could result in a "15-35% stock move"
** Brokerage places probability of success at between 80% and potentially higher than 85% for the trial
** XENE fell 12.7% in 2024
(Reporting by Kamal Choudhury in Bengaluru)
((Kamal.Choudhury@thomsonreuters.com;))
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