Last season, Murray led the team with 40 catches for 604 yards and had four receiving touchdowns.
The wide receiver injured the knee Wednesday during punt return drills and had to be helped off the field.
"He'll be out the rest of spring," Taggart told Noles247. "Had a little knee injury, a little meniscus. I think it's a tear on the side there. He'll be back quickly."
The Associated Press contributed to this report.