If you were my agent—how would you approach this? I wrote my novel and got myself a reputable agent. He seemed to love my work so I was off to a good start. With a few changes here and there he got my book under the noses of some big name editors at some great publishing houses. But ultimately I got rejected. (A dozen in all). The trouble seems (to me) that these rejections were from some of the top names. I have re-written over the last year and strengthened the novel considerably addressing most of these editor's criticisms. It's ready for round two. Would you re-submit to these top dogs? Or just move on — knowing that there are plenty of other houses out there?
First, what does your agent say? Listen to him/her/it/them.
Second, did any of the editors ask for it to come back with changes? If yes, do so. If no, that's not someone I'd ask again unless I was out of options.
When this has happened to me, while I've been toiling in the lily fields, the author has been working on another book. I frequently take book two out for a spin to see if we've got a better chance there, and often times the answer is yes.
But mostly, what does your agent say? Listen to him/her/it/them.