Macleod has been out of action since January after suffering knee ligament damage, while Perry tore his hamstring two weeks ago at Berwick.
Speaking to the club's official website, McCoist said: "The good news for everyone is that Lewis Macleod is coming along nicely.
"He's got the brace off and when he's doing a little bit of work in the gym he puts it back on again.
"That's five weeks now and Ross Perry's hamstring is also coming along.
"I don't want to put any specific time on it because it is important they come back fit, that's all that matters.
"But, I must admit I would be very, very pleased if we can get them back in a Rangers jersey before the end of the season."