Verenium Corporation's (NASDAQ:VRNM) Purifine Should Add Growth

Verenium Corporation's (NASDAQ:VRNM) Purifine may add solid incremental growth to the company in 2010 and 2011, according to Olympia Capital Markets.

They said, "VRNM announced an agreement with Desmet Ballestra Group s.a., a leading global solutions provider in the field of engineering and delivery of installations and equipment for the edible oil and fats and biodiesel industries, to jointly market the Purifine enzymatic degumming process, which combines Verenium's Purifine PLC enzyme and Desmet Ballestra's engineering services and equipment...We believe Purifine sales could provide a significant increment to the Company’s sales growth. Our current total product revenue estimates are $51.0 million for 2010 and $56.8 million for 2011."

Olympia Capital Markets maintains a "Buy" rating on Verenium, which closed Monday at $3.49, up by $0.21, or 6.40 percent. They have a price target of $5 on them.

Advanced Battery (NASDAQ:ABAT) Seems Positioned for Acquisition

Based on the probability Advanced Battery Technologies (NASDAQ:ABAT) will make an accretive acquisition sometime soon, Olympia Capital Markets says they're maintaining their "Buy" rating on the company.

Olympia said, "This morning (Monday), ABAT shares have (as of this writing) pulled back about 13% and now sell at approximately a 6% discount to the placement price. This capital raise strengthens our conviction that the Company will seek to make a significant and, in our opinion most likely, accretive acquisition in the near term. Accordingly, while we are reducing our 2010 EPS for ABAT by one cent to $0.52, at this time we are maintaining our 2011 EPS estimate of $0.60."

Advanced Battery gained most of their losses back when closing on Monday, ended the trading session at $3.82, down slightly by $0.02, or 0.52 percent. Olympia has a price target of $7 on them.

Codexis (NASDAQ:CDXS) to Distribute All Common Shares

Shares of Codexis (NASDAQ:CDXS) have largely rebounded after the news they were going to distribute all the common shares of stock in the company, generating concerns of dilution.

Olympia Capital Markets commented, "Maxygen, Inc., which formed Codexis in January 2002 as a wholly-owned subsidiary to operate its former chemicals business, today (Monday) announced that it will distribute substantially all of the shares of the common stock of Codexis that it owns, as well as approximately $30.0 million in cash, by way of pro rata special distributions to Maxygen’s stockholders...Although Codexis stock has pulled back 7% in today’s market in response to this news of an imminent large influx of shares into the marketplace, we believe, longer term, the resulting greater liquidity may widen the market for Codexis shares and help these shares’ performance."

Olympia maintains their "Buy" rating on Codexis, which closed Monday at $9.99, down by $0.01, or 0.10. Olympia has a price target of $13 on them.

Advanced Battery (NASDAQ:ABAT) Margins Should Widen in Fourth Quarter

After figures from the third-quarter were released, it appears margins for Advanced Battery Technologies (NASDAQ:ABAT) are poised to rise in the fourth quarter and forward, as operating expenses were lowered at the company.

Olympia Capital Markets said, "We are lowering our operating expense expectations in light of the third quarter figures. On that basis, we are raising our EPS estimates for the fourth quarter from $0.12 to $0.16, for the full year 2010 from $0.44 to $0.53, and for full year 2011 from $0.52 to $0.60. We continue to believe the shares would be reasonably priced at 10 times estimated 2011 earnings plus its current cash position, now $1.06 per share."

A "Buy" rating is maintained on Advanced Battery by Olympia, which closed Tuesday at $4.02, falling $0.03, or 0.74 percent. Olympia has a price target of $7 on them raising it from $6 a share.