The reiteration of a Buy rating and a maintained price target by a reputable analyst firm like HC Wainwright & Co. is likely to instill confidence among investors and could lead to a positive short-term impact on Ligand Pharmaceuticals' stock price. The specific mention of the company and the reaffirmation of the price target suggest a strong belief in the company's value and potential for growth, which can be seen as a positive signal to the market.