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BUZZ-XenoPort Inc: Reports strong Q3 profit

Reuters - UK Focus

** Drug developer's shares up about 10 pct at $7.18, after the company reported a strong third-quarter profit on Tuesday

** Received $25 million milestone payment from Reckitt Benckiser Pharmaceuticals Inc, a unit of Reckitt Benckiser Group PLC, for rights to XenoPort (NasdaqGS: XNPT - news) 's arbaclofen placarbil, used to treat muscle-related disorders

** Jefferies raises its price target on XenoPort's stock to $8 from $6 and rated it a "buy"

** Up to Tuesday's close, shares had gained about 14 pct this year