Viking Therapeutics (VKTX) is presented as a compelling alternative investment in the GLP-1 market. Although currently a pre-revenue entity, VKTX demonstrated robust performance in 2025. The company's pipeline includes both injectable and oral formulations of VK2735 for obesity, with the subcutaneous version in Phase 3 trials and the oral version having completed Phase 2a. Additionally, VK2809 for MASH has completed Phase 2b trials, and VK0214 for X-ALD is also in development. These programs are supported by positive clinical trial results, emphasizing a data-driven development approach. The current price for VKTX is $33.68. The analysis posits a bullish outlook, projecting significant upside towards a target of $46.34 for 2026, driven by its robust product pipeline and strong trial outcomes. An invalidation point for this analysis is identified at $19.00. The underlying thesis suggests VKTX could become an attractive acquisition target if its upcoming clinical trials continue to yield impressive results.