Pharmaceutical stocks largely shrugged off the change in Covid vaccine authorization policy, though analysts see rising risk in the space. The Food and Drug Administration on Wednesday set new limits for who is approved to get the latest round of Covid vaccines in the U.S. Despite this change, investors in vaccine makers haven't taken this as a major sell-the-news event like some market participants might have expected on the surface. Shares of Moderna , Pfizer and Novavax pulled back in Thursday's session, but rose on Wednesday despite the news coming midday. BioNTech has has fallen on both days, but the daily moves were not considered outsized based on the stock's recent history. "Investors don't actually think anything is new," said Daina Graybosch, senior analyst at Leerink Partners. "

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