I am able to create & run Xamarin Forms project in VS2015 on same machine.
I am even able to create the project in VS 2015 & then opening it in Xamarin Studio --> Run
But if I create fresh XF project Xamarin Studio it wont add XF package
Below is the details of dev environment.
1. Xamarin Studio 5.9.6
2. Visual Studio 2015 Community.
3. Windows 10 home
4. Profile PCL 4.5 - Profile 78
Below is the detail error
Adding Xamarin.Forms...
Adding 'Xamarin.Forms 1.3.3.6323' to PCLTest.
Could not install package 'Xamarin.Forms 1.3.3.6323'. You are trying to install this package into a project that targets 'portable-net45+dnxcore50+win+wp80+MonoAndroid10+xamarinios10+MonoTouch10', but the package does not contain any assembly references or content files that are compatible with that framework. For more information, contact the package author.