BUZZ-Jefferies raises PT on Xenon Pharmaceuticals

** 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;))