Gray was stretchered off during Scotland's 28-18 loss to Wales in the Six Nations on Saturday, with some fearing that he could be out for the rest of the season.
However, while the 23-year-old will miss the final game of the Six Nations, he could still play some part in the latter stages of Sale's domestic season.
"Richie underwent a scan at Spire Murrayfield Hospital this afternoon which confirmed the presence of a grade two tear of one of his hamstring muscles," Scotland doctor James Robson said.
"The normal period of rehabilitation from injuries of this nature is in the region of eight weeks.
"We have kept his club medical team at Sale Sharks fully appraised of Richie's situation and he will now commence his recovery with his club with a view to playing before the end of the season."
Gray should also be available for the British & Irish Lions ahead of their summer tour to Australia.