Seagen downgraded to In Line from Outperform at Evercore ISI

Evercore ISI analyst Joshua Schimmer downgraded Seagen (SGEN) to In Line from Outperform with a price target of $229, up from $175, after Pfizer (PFE) announced a deal to acquire Seagen for $229 in cash per Seagen share for a total enterprise value of $43B.